San Luis Potosi boasts thrive in manufacturing exports, investment

San Luis Potosi boasts thrive in manufacturing exports, investment

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Gustavo Puente Orozco, Secretary of Economic Development of San Luis PotosĂ­, announced that in 2018 the state exported about US$ 12 billion in manufactured goods, of which about US$ 10.5 billion corresponded to the automotive sector.

In San Luis PotosĂ­ there are about 326 companies related to the automotive industry which generate around 83,000 direct jobs, of the 446,000 that are registered with the Mexican Institute of Social Security (IMSS), he said.

Puente Orozco added that, according to its estimates, San Luis Potosi is the second state of the Bajio region (Central Mexico) in value of manufacturing exports. “Guanajuato reached around US$ 23 billion, then San Luis Potosi with US$ 12 billion, followed by Queretaro and Aguascalientes,” he said.

The official added that before the arrival of the General Motors and BMW plants, there were 123 companies in the automotive sector established in San Luis Potosi.

“Since the announcement of General Motors in 2006 to 2014, between 102 and 103 companies arrived. And, subsequently, from the announcement of the BMW plant in 2014 until last month, about 101 companies that came to supply components and services not just for the German automaker, but for other assembly plants in the region”.

Puente Orozco affirmed that from January to November 2018 the state attracted investments worth of US$ 637 million, which were the result of the arrival of 11 new companies and nine more that expanded operations.

These companies are mostly from the automotive sector, but there were also investments in appliances manufacturing, metalworking and energy services, among others. These investments generated 4,349 direct jobs in the referred period, said the official.

Among the major investments in 2018 is that of Magna, located at the Logistik II industrial park, in the municipality of Villa de Reyes. The Canadian company invested US$120 million, opening 156 jobs positions in its first stage of operations.

Another outstanding investment was the one made by a joint venture dedicated to the energy sector, specifically gasoline storage, which already operates in the WTC II industrial park, with a US$100 million investment.



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